US equities closed the session in negative territory following today’s US Nonfarm payrolls which came much lower than expected at 88k vs. Exp. 190k. The miss on the headline payroll reading was also the largest miss against the expectation since December 2009 and worst reading since June 2012. Equities came under pressure with the S&P 500 coming close to its biggest weekly drop of the year with 331 companies in the index closing in the red against 167 in the green. Nasdaq was the session’s underperformer weighed on by the tech sector with Apple posting a 1.16% loss. Heading into the Wall Street close, equities did pare some of the losses. F5 Networks was the session’s laggard dropping as much as 20% at one point after they cut their forecast in after market yesterday. Finally, the DJIA finished down 0.28% at 14565.02, the S&P 500 finished down 0.43% at 1553.26 and the NASDAQ 100 finished down 0.83% at 2771.75.
05 Apr 2013 - 15:06 - Equities Economic Commentary - Source: RANsquawk
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